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Financial Benefits of Having a Fuel-Efficient Car

Are you thinking about buying a new car, or perhaps you are buying your very first car?

Well, I’m here to remind you to take into consideration the financial benefits of having a fuel-efficient family car as a viable, prudent option!  Personally, I know that in the past, I at one time would just looked at the total price tag when buying cars as the primary basis of my purchasing decisions, (much to my chagrin).  Today, a more “wiser” me, take many more variables into by buying decisions.

Today gas prices are incredible high!  In fact gas prices are so high that as a car buyer, you must take into account the financial benefits of having a fuel-efficient car versus just buying the cheapest option.  Oh sure, the fuel-efficient car will be more expensive out of the gate, but after a few years, the fuel-efficient car will usually be the winner!

Honda Accord
Honda Accord

In may ways the fuel-efficient car versus the cheaper, maybe used car is much like the race between the tortoise and the hare!  At the beginning of the race the hare (the cheaper car) is way ahead, but after a few laps and many gas station refills later, the tortoise manages to catchup and pass the hare in terms of overall financial benefit!

Now that you know that after a few years, the fuel-efficient car beats the used or gas guzzling car, let me list a few additional benefits of a fuel-efficient car!

  • More than likely, the fuel-efficient car will be newer and possible under a warranty.
  • Hopefully the new car will be much cleaner without any odd previous owner smells (did they smoke?).
  • The repairs of a newer fuel-efficient car will be minimal and in the unlikely even such a repair is necessary, it’s covered by the warranty!
  • Since the fuel-efficient car is newer, it should look nicer and be more in tune with your individual taste in car styles.
  • And let’s not forget, less trips to the gas station!  In my case (yes I’m looking for a new car), it would literally cut my gas station visits down by half.  In the winter months, this is truly a reward in and of itself!
  • And finally there is handling, comfort, looks and pride of having a new fuel-efficient car since you’ll be helping the environment in your own personal way!

In a future post, I’ll break down the math, but for now it’s worth it to note that my gas expense would be cut in half with the new fuel-efficient car for the family, when compared to my existing vehicle.

 

Bests,

Don

10 Responses to Financial Benefits of Having a Fuel-Efficient Car

    • That’s awesome. My current car is junk and gets horrible gas mileage, and is breaking all the time. I expect the new car to get double the mileage out of the vehicle (or very close to that number).

      Congrats on the new car! Prices haven’t really raised much on new cars, and used cars are selling a what I consider a premium for no real benefit other than being just a little bit cheaper.

  1. With gas prices only going one way (up!) fuel efficiency is less a want and more of a need! We recently tried out a hybrid and were really impressed (that post is in this week’s carnival of financial camaraderie, which is how I got here).

    • Yes, hybrids are very impressive and have come down a lot in price! I see hybrid: Toyota Prius, every where anymore. But perhaps I’m more in tune with it because I would like either a Honda (much cooler) or a Toyota myself.